TICKFORD Racing has announced the completion of a transaction which sees Altor Capital become its new majority owner.
Altor is the alternative asset management arm of Prime Financial Group, which Tickford engaged last year to attract investment.
Altor last year became a stakeholder in Supercars ownership consortium RACE.
Its exact share in Tickford is not specified beyond being of a “controlling” extent, which indicates at least 50.01 percent.
Rod Nash remains a co-owner, while Sven Burchartz has departed the fold.
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Tickford will continue to be led on the ground by Nash as director of motorsport and Simon Brookhouse as CEO.
Simon Brookhouse. Pic: Mark Walker
“We are thrilled with the decision by Altor Capital to make this investment in Tickford Racing, which continues a proud tradition in the Supercars Championship,” said Brookhouse, who’d in recent months flagged private equity ownership as a growth space for the category.
“The investment is a great validation of what Rod and the entire Tickford team have built over the decades and provides us with the right partner to unlock the exciting future of the Tickford Racing team.
“The world of sports is increasingly headed towards private investment with backing of sophisticated capital and we welcome the level of professionalism that comes with this investment.”
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Nash added: “This outcome is the result of many years of the business and its staff building a team profile, not only in the motor racing sector, but also through the engineering and specialist manufacturing it currently supplies to its network of customers in the racing industry.”
Altor already owns a controlling stake in National Basketball League team Tasmania JackJumpers, where Brookhouse was previously CEO.
“This acquisition represents a rare chance to own an investment in a premier professional motorsport platform with an established track record, best-in-class engineering, a passionate and engaged fan base, and strong commercial momentum,” said Altor chief investment officer Ben Harrison.
“We are excited to be partnering with Rod, Simon and the Tickford Racing team as it embarks on its next leg of growth.”
Tickford was advised through the process by Prime partner and head of sports and entertainment Rhys Lenarduzzi, who spoke of rising investor interest in motorsport.
Thomas Randle sported a Larry Perkins throwback look at Sandown. Pic: Ross Gibb
“The Supercars is one of the sports and entertainment products for which we’ve received a huge amount of investor interest,” he said.
“The Supercars is widely recognised as a championship poised to extend beyond Australian and NZ borders and make a meaningful mark in Asia.
“Sophisticated ownership across the grid, translates into high calibre commercial deals, and attracts elite talent – from drivers and engineers to executives.”
Tickford Racing runs two full-time entries in the Repco Supercars Championship and four in the Dunlop Super2 Series, while its Dilan Talabani-led Tickford Engineering offshoot has been quietly building a formidable clientele.